Purple Biotech Ltd Stock Price, News & Analysis

Purple Biotech (NASDAQ/TASE: PPBT) has received a new U.S. patent for NT219 in combination with EGFR antibody therapy for cancer treatment. The patent covers NT219's use with cetuximab (Erbitux) and other EGFR antibodies like panitumumab and necitumumab in treating EGFR therapy-resistant tumors.

NT219, a first-in-class small molecule drug targeting cancer resistance mechanisms, has advanced to Phase 2 clinical trials for second-line patients with recurrent and/or metastatic head and neck cancer. The study will evaluate the drug's effectiveness when combined with standard therapies including cetuximab and pembrolizumab.

The head and neck cancer treatment market is projected to reach $5 billion by 2030. This patent complements Purple Biotech's existing IP portfolio, which includes protection in major markets like Europe, China, and Japan.

Purple Biotech (NASDAQ/TASE: PPBT) is advancing NT219 into Phase 2 trials for head and neck cancer treatment. The study will evaluate NT219, a first-in-class small molecule drug, in combination with standard treatments pembrolizumab (Keytruda) or cetuximab (Erbitux) for recurrent/metastatic squamous cell carcinoma (R/M SCCHN).

The trial, conducted with the University of Colorado Anschutz Medical Campus, will follow a Simon 2-stage approach with two single-arm cohorts, initially enrolling 10 patients per arm, followed by 19 additional patients per arm in the second stage. The SCCHN market is projected to reach $5 billion by 2030, with current treatment response rates at only 20% for pembrolizumab and 15-20% for cetuximab.

NT219 targets cancer resistance mechanisms by degrading IRS1/2 and blocking IGF1R/IRS1 and STAT3 survival pathways. Phase 1 studies have already determined the recommended dose and demonstrated anti-tumor activity with confirmed patient responses.

Purple Biotech (NASDAQ/TASE: PPBT) has announced a research collaboration with the Icahn School of Medicine at Mount Sinai to study their CAPTN-3 tri-specific antibody platform. The collaboration will explore how CAPTN-3 regulates NK and T cells within the tumor microenvironment (TME), aiming to enhance tumor-specific immunity against various cancer types.

The CAPTN-3 antibodies are designed to promote antitumor functions through three mechanisms: conditional activation of the anti-CD3 arm at the TME, blockade of NKG2A, and targeting tumor-specific antigens. This approach could potentially improve responses in resistant cancer patients and overcome current therapy limitations.

The research will be led by Dr. Amir Horowitz, Associate Professor at Mount Sinai, who has previously demonstrated the importance of the HLA-E/NKG2A axis as a dominant inhibitory checkpoint pathway in solid tumors. The study aims to map how CAPTN-3 antibodies alter T and NK cell activation within the TME.

Purple Biotech (NASDAQ/TASE: PPBT) has completed its previously announced registered direct offering of 472,668 American Depositary Shares (ADSs) at $6.00 per ADS, with each ADS representing 200 ordinary shares. The offering generated gross proceeds of approximately $2.8 million, before deducting placement agent fees and other expenses.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering. The company plans to use the net proceeds to fund the development of its oncology therapeutic candidates and for general working capital and corporate purposes. The offering was made pursuant to a shelf registration statement previously filed with and declared effective by the SEC.

Purple Biotech (NASDAQ/TASE: PPBT) has announced a $2.8 million registered direct offering of 472,668 American Depositary Shares (ADSs) at $6.00 per ADS. Each ADS represents 200 ordinary shares. The offering, expected to close around December 4, 2024, is being facilitated by H.C. Wainwright & Co. as the exclusive placement agent. The company plans to use the proceeds to fund the development of its oncology therapeutic candidates and for general working capital purposes. The offering is made pursuant to a previously filed and effective shelf registration statement.

Purple Biotech (NASDAQ/TASE: PPBT) reported positive final results from its randomized Phase 2 study of CM24 in second-line pancreatic cancer. The study evaluated CM24, combined with nivolumab and Nal-IRI/5FU/LV chemotherapy, showing significant improvements across efficacy endpoints. In a biomarker-enriched patient population, the treatment demonstrated a 79% reduction in death risk (HR 0.21, P = 0.04) with 5.1 months median OS improvement, and over 90% reduction in progression risk (HR < 0.1, P = 0.003) with 2.9 months median PFS improvement. The company plans to proceed with a Phase 2b study in multiple selected indications, targeting patients based on biomarkers.

Purple Biotech (NASDAQ/TASE: PPBT) reported Q3 2024 financial results and clinical updates. The company expects topline data from Phase 2 CM24 pancreatic cancer trial by end of 2024. New biomarker data showed patients with specific serum CEACAM1 levels demonstrated 79% reduction in death risk. Q3 financial highlights include reduced R&D expenses to $1.3M (71.7% decrease), operating loss of $2.1M (63.2% decrease), and net loss of $0.7M. Cash position stands at $6.3M with runway extending into Q4 2025. The company plans to commence Phase 2 study of NT219 in head and neck cancer in H1 2025.

Purple Biotech has identified serum CEACAM1 as a potential new blood biomarker for its lead oncology candidate CM24. Pancreatic cancer patients with serum CEACAM1 levels between 6K-15K pg/mL showed significantly improved outcomes when treated with CM24 and nivolumab combined with chemotherapy. The treatment demonstrated a 79% reduction in death risk, improving median overall survival from 3.6 to 8.7 months, and progression-free survival to 4.6 months. CM24, a CEACAM1 inhibitor, is currently in Phase 2 trials with topline results expected in Q4 2024.

Purple Biotech presented new data for its CAPTN-3 platform at the EORTC-NCI-AACR Symposium. The platform demonstrates sustained tumor regression in triple negative breast cancer models and dose-dependent activity in non-small cell lung cancer. The lead tribody IM1240 showed 5T4-dependent cytokine release with improved safety profile through conditional activation. The platform enables development of tri-specific antibodies targeting both T cells and NK cells to fight cancer, with potential first human clinical studies by 2026. The technology showed synergistic effects in tumor suppression and demonstrated plug-and-play capabilities for targeting different cancer types.